Charlie Strong has decided to stay at Louisville after declining a contract offer from Tennessee on Wednesday, a source told SI.com. The announcement that he will stay is coming at 9 a.m. ET, SI reports.

Strong and Louisville are working to complete a long-term contract extension that could be announced as early as Thursday, SI.com reported. The deal is expected to put Strong among the ACC’s highest-paid coaches.

"It was Charlie's desire to end this constant speculation and re-commit long term to Louisville," a source said to SI.com.

Louisville announced it is leaving the Big East for the ACC, a move many thought might help Louisville hold onto Strong. That appears to be the case. Louisville won a share of the Big East title and the league’s BCS bid after finishing 10-2 this season. The Cardinals will face Florida in the Sugar Bowl.